Evening folks! sorry for late post i had to take my lil bro & sister to chucky cheese then to laser tag..then to the bar to feed them! Crazy day in the markets. Its really impossible to try to game it and say that you know which direction its going to go. The only thing you can do is prepare to play it both ways and identify key inflection points in the market when broken that can tilt it in your favor. Yesterday everyone was having a countdown as futures were ripping magically everone was long into the weekend. The market opened everyone chased the open we had 1 nice candle and splat! Thats some tricky stuff when people get all of sunday to digest a piece of news and the market acts favorable only to reverse. We had a great day in the boom factory today…as we shorted $jive in the 16.2s on friday which tanked right at the open.. took a dollar plus gain on $nav short and some solid trades in $fran, $pcyc $lvs. I did take $mgm and $lvs short home with me overnight. I have a decent price cushion where if the market gaps up i can still come out of it even. Thats really the only way you can swing stocks right now is if you have a bit of a profit cushion that takes a bit of the risk of the table. Keep an eye on OIL its getting murdered taking everything associated …when oil starts to fall oil stocks can move 3x to the price of oil there is going to be a lot of volatility in these names. STocks like $lng make real nice liquid traders both the longside and shortside and is a must to keep on your watchlist.
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